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Cavuto on Business

News/Business. Neil Cavuto and market analysts discuss financial issues and forecasts. New. (CC)

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00:30:00

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San Francisco, CA, USA

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Comcast Cable

TUNER
Virtual Ch. 760 (FOX NEWS HD)

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mpeg2video

AUDIO CODEC
ac3

PIXEL WIDTH
1280

PIXEL HEIGHT
720

TOPIC FREQUENCY

Us 5, Slimful 3, Ben Stein 3, Washington 3, Scottrade 2, Brenda 2, Kelly Wright 2, Charlie 2, Adam 2, California 2, Charles Payne 2, America 2, Mr. Nixon 1, Neil Cavuto 1, Ben 1, Futility 1, Charlie Gasperino 1, Gary B. 1, Cavuto 1, Brent Musburger 1,
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  FOX News    Cavuto on Business    News/Business. Neil Cavuto and market analysts  
   discuss financial issues and forecasts. New. (CC)  

    January 12, 2013
    7:30 - 8:00am PST  

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>> predictions. >> i like aar. a nice alternative to boeing and trading at a pretty low p.e. >> brenda: gary b. bull or bear on that. >> i do not like it at all. >> brenda: tobin predictions. >> united health care winner 20% end of the year. >> brenda: stephan, bull or bear. >> bear. >> brenda: gary b, your prediction. >> i like ford, hiring like crazy and think the stock is going to take off up 50%. >> brenda: jonas bull or bear. >> bear. >> brenda: your prediction. >> i was watching videos of the driverless cars going
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through things and japanese find the cracken, good for the japanese stock market. >> brenda: toby, bull or bear. >> the only squid that bleeds red ink, jonas, okay. >> brenda: neil, you're next. >> neil: well, if d.c.'s money watch dog gets it, and this gal gets it, then why can't lawmakers just get with it? how everyone, i'm neil cavuto and call her the money honey. who would have thought that honey boo boo would have phenomenal advice for washington. do you know her mom is stashing away all of her kids cash in an untouchable trust fund until they turn 21. now from the honey to the hills, where the cbo is hearing a lot of oh no's on the way to the latest spending plan to cut spending which isn't cutting anything. reduced spending for nonagencies, annually and you could save 932 billion dollars over ten years. that's slicing 1% off the
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planned growth. slash the growth in funding for the department of defense, and the cbo says that 1% will 862 billion in savings and the earliest eligibility age, raise, 15 years out, and guess what looking at another 144 billion in savings there. nearly 2 trillion dollars in savings from just those three items i mentioned. there are dozens more, total of 4.6 trillion dollars in potential savings, if washington would just quit stalling and start cutting. and maybe we could be looking the at a d.c. oscar winner. honey boo boo, i shrunk the debt. honey boo boo, i shrunk the debt. >> i got it. >> neil: anyway, charles payne, dagen mcdowell, along with adam lashinsky, look who is back, charlie gasperino. charles payne, these were numbers, part of a menu put out by the cbo among such of
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options, all relatively painless. >> relative, some just kind of common sense, medicare, and age eligibility, 100 billion and how about curtailing the medical malpractice lawsuits, 60 billion dollars. the numbers are mind-boggling. >> neil: not a single program is cut. we're talking about shaving their growth, in most cases by 1% a year, so they're going up at a 7% clip. 6%. >> it did slow down a little bit. yes. listen, this cells this, these guys go to d.c. overwhelmingly, they go there become ultimately corrupt somehow and the only mention to loot the joint and that's crazy, when the cbo comes out with something that they can use, all of a sudden it's the bipartisan backs me up on this and comes out with something they can't use. >> neil: all of a sudden they became like the zagat survey.
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>> and i love that you're talking about honey boo boo. >> that's one weird-- >> weird how? her mother is extreme coupons. >> is newscorp interested in her or no? go ahead. >> no, her mom is an extreme couponer, and she can do math. she knows how to save money. she's got paper towels stacked from floor to ceiling. >> who doesn't. >> you know what? that's the kind of attitude. well, that's the kind of attitude we need down in washington. people who are-- know how to pinch pennies, who know how to save money, but i'd argue those folks in d.c. won't do it until the american people truly agitate for it. and when you talk about cutting, in social security and raising the retirement age and talking about making tweaks to entitlement programs, most people in this country go bananas, and that's why-- >> and same in congress, right, charles? >> although, i think this debate is a huge distraction.
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it's nice that they came out with savings and we can raise this, do that and this little girl we're talking about here. >> by the way, we're leading with this. >> and, but the exercise, this is an exercise in futility, as was that ridiculous fiscal cliff, the real problem the country has is economic growth. we're not putting people to work, we're cutting stuff when i think we should be stimulating and stimulating through the tax code and i mean, there's an absurd notion if you tax people making $400,000 a year and. >> neil: you're not following the script. you opened with a relatively easing savings. >> and save stuff by-- >> and what do you think about this. >> if it were that easy it would have been done already and these congress people are not as stupid as you think, although mr. nixon did once say that most congressmen are not fit to be dog catchers, but-- dog catchers pretty sad job. >> it's not as easy as you think or else it would have
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been done and also the-- >> i disagree, ben, because it is easy, but, obviously, each party clings to its more dog mattic starts and making it impossible to be rational. >> it's simple, but not easy. the tragic part of this is even with the savings, the deficit and accumulative federal debt-- instead of an act of heroism such as never has been seen on capitol hill before. >> neil: that part you're right. adam. >> i would state this differently. the cbo is playing math games, that's fine. cut 1%, this is what you get. what they're not playing is political games. i completely disagree with what charles said. these people are inherently as a group corrupt. i don't think that's fair. if you want to say they're not doing their jobs well, not making the tough political decisions, that's different from correct. and dagen hit the nail on the
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head. we support them in these things. we don't want them to cut these programs. we, the people. that's the political problem. >> although, adam, in the election process, we are-- they do make several promises to do the right thing. and when they go there, whether they are he' pressu're us, they don't do the right thing and hence the corruption. >> maybe my definition of corrupt-- that doesn't describe law breaking, things punishable by going to prison so he we may be talking past each other on this. it's difficult to define, charles, what the right thing is. >> the right thing, the right thing? >> should they cut medicare? >> are you serious? we've got-- yes, cut it all. cut it all. i think ben stein, the courage, the political courage to do the right thing. we all know the right thing. >> the american people don't want these programs cut. >> so what? so what? we all know the right thing.
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here is the problem. everybody wants to keep their little kitty, their part, cut the other guy's part. it's never going to work that way. >> i agree with that. >> neil: let's say we keep going the way we're going where we don't really address spending, we came off the cliff deal, 40-1 and that probably is, i think, a precursor to what we're going to see. then what, how do you get a boom out of that. >> what makes this scary, we're destimulating the economy as these programs-- >> i know, how do you get out of that. >> you've got to get the right people in government. and anybody who thinks that raising taxes on anybody making $400,000 a year is going to do anything for the deficit and-- >> i'll disagree with you, too, here. >> and you think it's stimulative to raise taxes right now. >> no, we're having a housing recovery. we're having an auto recovery, and-- >> one side going on-- >> adam. when you go from 1 to 2 that's
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a big increase. >> charlie, with all due respect, there is no data, reputable study showing that raising taxes on rich people. >> 1980, 1980. >> from '82 to '88. and -- from '82 to '88, every year, mr. reagan raised taxes, and after that-- >> a tax cut which took that rate dramatically. >> all right, guys, guys, guys, calm down. this is cable here, okay? dagen, do you get a sense that just this conversation illustrates that it's going to be next to impossible to cobble together a deal that remotely addresses this problem? >> yes. >> neil: so then what happens, is it pushed off to the mid terms? ask pushed off to the next president? you know what i mean? 4 billion dollars a day add today this turkey, time of
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a-waia a-wastein'. >> we dealt, but we didn't deal with the sequester. the automatic spending cuts, that's emblematic what's in store for this company. the only thing that fixes it, when longer term interest rates sky rockets, andraise tax the economy is no longer growing and they will try both. trying to get the fed buying the debt and then, then-- >> i don't know with a bugs me more, this exchange, i've got a new ifb and it's not fitting right. enough about me, i have to carry on. and meanwhile, forget about mardi gras, the tax cutting party in the bayou state. louisiana governor want to get rid of the state income and corporate tax and slightly higher sales tax and the gang from forbes says his party should go national.
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and that's at the top of the hour. and afraid of your boss now? what if you get the flu? well, if more workers are scared sick of calling out sick, will that have the economy feeling really sick? [ male announcer ] at scottrade, you won't just find us online, you'll also find us in person, with dedicated support teams at over 500 branches nationwide. so when you call or visit, you can ask for a name you know. because personal service starts with a real person. [ rodger ] at scottrade, seven dollar trades are just the start. our support teams are nearby, ready to help. it's no wonder so many investors are saying... [ all ] i'm with scottrade.
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>> live from america's news headquarters, i'm kelly wright. president obama under increasing pressure from some in his own party to avoid default without congressional approval. senate democrats are encouraging the president to consider bypassing congress if necessary to prevent the nation from defaulting on its spending obligations. this, if lawmakers cannot agree to raise the nation's 16.4 trillion dollar debt ceiling next month. well, the flu outbreak reaching epidemic levels. the flu is now widespread in 47 states, look at this map right now. everywhere, but california, hawaii and mississippi, but the biggest concern is that
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the vaccine supply is already start to go run low. the fed say it's killed 20 children, no count yet how many adults have died. i'm kelly wright, now back to cavuto on business for the latest headlines, log on to foxnews.com. . >> neil: all right, these aren't jobs from the movie outbreak. a triage unit at a pennsylvania hospital, more are going up for treating the latest flu cases and it's not just hospitals across america that are feeling rundown. so is the american workplace and now workers are afraid to call in sick out of fear of losing their jobs, so that could be making that flu outbreak worse. >> absolutely. unemployment still at 7.8% and i think that managers in companies far and wide do enough to tell people to stay at home. but i think that fear is right
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and just. people are in deep, deep fear of getting fired. and so-- >> but they're afraid of guys like adam, taking an inch and running a mile. (laughter) >> sniffles and out of work for two weeks and mailing it in. and we obviously got to do something about that. but it's a real probable fear out there? adam? >> is it a real fear of losing your -- yeah, of course. and the sad thing. >> neil: join in on the show anytime you want, adam. it's okay. >> i'm in california, give me a break. >> neil: and i'm kidding, love you to death. go ahead. >> the real fear is for people who make money by the hour, and if they get sick, and it's an economic tragedy. employers are doing a disservice having sick people in the office, that's going to get other people sick, obviously. >> neil: ben stein, what is it like out where you are? is it building into something where, all right, the state officials are saying, all
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right, we've got a problem on our hands and we're going to start telling employers to tell their folks, stay at home. >> i'm in washington d.c. today. out where i am isn't that far away. i will tell you something about how scared people are, last night i was watching skyfall, the new james bond movie, for the 10th time, great movie and one woman started coughing and everybody in the theater moved away from her. it's a vicious flu and people should not be going to work and spreading it, it's extremely socially irresponsible. >> neil: charles payne. >> we've come a long way from take this job and shove it. there's a joke at my company that you have to quit or be fired to take a day off. so. >> what? >> and what a warm and fuzzy establishment you've got. (laughter) because-- >> if one of your employee is the one who sneezed on me the last couple of days. >> he wouldn't have because he would have been at work.
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>> and do you enforce that policy you have to be there dead. >> no, no, listen, if you're sick, you're sick. >> neil: you say that, but you're just like, okay, i see jones isn't here. >> i don't ask for doctor's notes, but you do have to be sick. >> neil: yes, you do-- >> he sound like you're-- >> i look to see the margin of error on the survey. i mean, listen, we're generally a nation of wimps and whiners and complainers and-- >> this is the flu. >> it strikes me that people, they would sue if they he got fired over taking a day off. i mean, this is a nation where people sue you for anything. >> neil: and any credence to people who are too nervous about their stability at work if they don't go in? >> i don't think so. most employers know if you take off for having the flu. >> neil: they're not going to
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say-- >> charles will find any one of a myriad of excuses. >> and the sick files and-- >> my dad was in construction and he had pneumonia and-- >> and what is the bubonic plague thing? >> and have a bowl of soup. >> i'm sick right here and i'm on. >> and that's to say-- >> i don't think that we're a nation of wimps. i think that we work through pain and that's one of the reasons that people do go to work because they like working 'cause they hate their spouses and don't want to stay at home. >> neil: my god! >> oh, my god. >> i'm going to take a break. >> that's an excuse. >> did that go where you wanted it to. >> no, two up, two down. >> well, taking up-- you may have not had a pile of supplies, this is a problem. a new regulation hitting this year expected to create a pilot shortage this year. so, get ready for maybe a lot fewer flights, a lot higher fares and not a single pilot
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in sight. look like this? >> i told brenda, i work hard, i like a clean house when i come home. >> i know exactly where you're coming from. >> ow, it's in my eyes!. ♪ [ male announcer ] this is karen anjeremiah. they don't know it yet, but they' gonna fall in love, get married, have a couple of kids, [ children laughing ] move to the country, and live a long, happy life together where they almost never fight about money. [ dog barks ] because right after they get married, they'll find some retirement people who are paid on salary, not commission. they'll get straightforward guidance and be able to focus on other things, like each other, which isn't rocket science. it's just common sense. from td ameritrade.
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♪ many hot dogs are within you. try pepto-bismol to-go, it's the power of pepto, but it fits in your pocket. now tell the world daniel... of pepto-bismol to-go. >> coming up. ready for takeoff? not so fast. i'm not even talking about the dreamliners this week, i'm dreamliners this week, i'm talking about a coming isurprise...it's eating less. to losing weight. i'm hungry just thinking about it. thank goodness for new slimful. one delicious, 90-calorie slimful and a glass of water, like before dinner, helps keep me satisfied for hours. so instead of this much, i only need this much. and slimful tastso good... i don't even miss dessert. slimful and a glass of water...
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eating less is a beautiful thing.
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>> well, you think the grounding of the boeing dreamliners was the real nightmare for travelers this week, you might want to think again. there's a new report showing a pilot shortage is about to take flight due to new government regulations and a lot more pilots approaching
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retirement, they have to go and there are fewer people behind them. and this coming amid a very busy airline season and already been hiking fares, charles, not a great combo. >> anytime the news headlines out of the airlines is not great news for travelers. means higher fees. >> neil: unless you have a flu outbreak on a plane. >> higher fees. and they nickel and dime you. we've gone over it, the whole nickel and dime aspect. park a bunch of planes, higher fees. cram in the chairs, higher fees, it's awful, but it is what it is, but means that everyone watching the show be prepared to pay higher fees. >> neil: is that the case? >> absolutely, but suck it up. it's not public transportation, it's the airline's business. >> and there's a heartless streak in you. >> she's right on this one. >> the remaining airlines that we have left to stay healthy. >> neil: you make boo boo to
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look like the pope. >> raise fares and i want planes to be less full. >> neil: and pilots. >> we will have pilots if the airlines are healthy they will be able to pay them a nice salary and be a profession that people want to enter in the coming years. >> neil: right now, gasperino, they don't want to answer. >> is there an american business that you admire, an american -- you beat up on-- beat up on banks, hate green energy, you hate the airlines. >> neil: i hate you. i hate you. >> you hate the energy, too, charlie. >> and decided to throw that in for effect. >> and your buddy on wall street's pockets. >> yes, the-- >> right here. (laughter) >> you are of the banking. >> and the airlines, and the government. an expensive business. >> neil: just like dagen, just like dagen. adam. what say you. >> checking accounts-- >> i'm not with dagen on this on the go to work to avoid our spouses thing.
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she's right. >> neil: she was wrong on that, we avoid our in-laws, there is a difference. (laughter) >> i've spoken to pilots, it's become a horrible provision and they need to make more money and we need to raise faeshgs nothing wrores. >> if you raise the fares, can i have a blanket, a billopillow can i have some grub and-- >> bring your own blanket. >> and that's what i do. >> ben stein. >> there's a sort of an easy way to test what's going on. how big are the profits of the airlines, we know they're small or nil so they're not overcharging us at all. the stock holders are basically giving us a gift by letting us fly on these airplanes. >> and they're all-- >> the whole thing started with deregulation, you know, they never should have deregulated. should have been regulated and should be set to always make
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money and always pay the pilots a very excellent wage. >> neil: i want to thank charlie and dagen. and this girl, apparently brent musburger did, nothing on our gang's stocks. what are you doing? nothing. are you stealing our daughter's school supplies and taking them to work? no, i was just looking for my stapler and my... this thing. i save money by using fedex ground and buy my own supplies. that's a great idea. i'm going to go... we got clients in today. [ male announcer ] save on ground shipping at fedex office.
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